1031 exchange

1031 Exchange

Posted by on Feb 26, 2011 in 1031 exchange

A 1031 exchange also known as a  tax deferred exchange, is the process in which people sell a qualified property and buy a like-kind qualified property and in the process are able to defer taxes if done properly and within the timelines and rules.  To accomplish this you’ll want to use a qualified intermediary for all of your needs. You’ll likely want to use a specialized agent or broker, or possible attorney for your 1031 transaction.  We are talking about...

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1031 Tax Free Exchange: 1031 Exchange Code 1031 of…

Posted by on May 2, 2008 in 1031 exchange

Created by the I.R.S. in 1990, section 1031 of the Internal Revenue Code allows taxpayers, with the aid of a Qualified Intermediary, to sell investment or income property solely for the purchase of other “like-kind” property within 180 days and to defer the capital gains taxes normally associated with such a sale. In essence, the taxpayer is exchanging one income property for another and deferring the gain in the process. Known as a 1031 or a tax-deferred...

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